According to the U.S. Bureau of Labor Statistics, prices in Phoenix, Arizona are 65.74% higher in 2023 versus 2005 (a $447,035,641.74 difference in value).
Between 2005 and 2023: Phoenix experienced an average inflation rate of 2.85% per year. This rate of change indicates significant inflation. In other words, $680,000,000 in Phoenix in the year 2005 would cost $1,127,035,641.74 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.50% during this same period, inflation in Phoenix was higher.
In the year 2005: Pricing changed by 2.95%, which is above the average yearly change in Phoenix during the 2005-2023 time period. Compared to inflation for all items in 2005 (3.39%), inflation in Phoenix was lower.
Below are calculations of equivalent buying power in Phoenix, over time, for $680,000,000 beginning in 2005. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
2005 | $680,000,000.00 | 2.95% |
2006 | $700,092,336.10 | 2.95% |
2007 | $723,851,523.55 | 3.39% |
2008 | $748,841,366.57 | 3.45% |
2009 | $738,192,428.44 | -1.42% |
2010 | $742,330,193.91 | 0.56% |
2011 | $762,774,145.89 | 2.75% |
2012 | $779,814,958.45 | 2.23% |
2013 | $789,766,943.67 | 1.28% |
2014 | $802,582,086.80 | 1.62% |
2015 | $803,812,742.38 | 0.15% |
2016 | $816,922,991.69 | 1.63% |
2017 | $837,122,068.33 | 2.47% |
2018 | $871,975,992.61 | 4.16% |
2019 | $897,373,961.22 | 2.91% |
2020 | $914,979,870.73 | 1.96% |
2021 | $960,865,743.31 | 5.01% |
2022 | $1,071,499,168.98 | 11.51% |
2023 | $1,127,035,641.74 | 5.18%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Phoenix, Arizona:
Year | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
CPI | 101.200 | 103.300 | 105.200 | 108.300 | 111.500 | 115.284 | 119.264 | 117.568 | 118.227 | 121.483 | 124.197 | 125.782 | 127.823 | 128.019 | 130.107 | 133.324 | 138.875 | 142.920 | 145.724 | 153.032 | 170.652 | 179.497 |